The diverse intellectual property and licensing business in Hong Kong is integrated into many fields beyond information technology. Brand licensing helps owners develop creative products and services and brings new business opportunities.
One of the world’s most-recognised IPs is the board game Monopoly, which is ranked as the most popular proprietary board game by Guinness World Records, with 500 million players worldwide.
In keeping with the trend to leverage IP assets in a wide range of settings, Monopoly is branching out from the world's living rooms and into physical entertainment spaces.
Noting Hong Kong’s strong IP rights protection and thriving tourism industry, MRM Entertainment Limited (MRM) launched Monopoly Dream World™ on The Peak, a tourist hot-spot overlooking Hong Kong.
Monopoly Dream World™ won the Location-Based or Experiential Initiative of the Year award at the Licensing International Asian Awards organised by Licensing International last year.
MRM built the experience centre after obtaining the license of the world-renowned game and setting up the brand with the theme of Dream World to build the world's first Monopoly experience centre in Hong Kong.
Noting that table games had become very popular among people of all ages in recent years, Vicky Au, CEO of MRM, entered the game world, offering a chance to experience the fun of the game in a very different format.
“When I proposed this project, there was no pavilion under this brand in the world. We discussed with the brand owner whether they could authorise us to set up a long-term pavilion,” Ms Au said.
Ms Au said that from development to action, to ongoing management and operation, MRM managed the entire business process. The advantage was that they could control all costs and income.
The firm chose The Peak as its first stop because it is a must-go iconic viewing point in Hong Kong for many short-term and first-time visitors, creating a market for their medium-sized exhibition hall. Indeed, a 20,000 square feet venue is exceptional by Hong Kong standards.
Ms Au has worked overseas for many years and is very familiar with the business culture and copyright regulations in different countries. When she was to pick a location for the game's first themed pavilion, she chose Hong Kong without hesitation.
“First of all, our team members are all Hong Kongers with an international perspective. Secondly, Hong Kong’s copyright regulations are well-established, so I don’t have to worry about IP rights being infringed. Thirdly, Hong Kong's shopping mall management capabilities are among the best in the region.”
The firm has taken a step further, and opened its second theme pavilion in Melbourne, Australia in November last year.
The HKTDC Hong Kong International Licensing Show will be held from 27 to 29 April this year. The exhibition connects global licensors, licensing agents, brands, licensees and traders through a one-stop platform to explore cross-sector business cooperation.
